Real estate sales in Dubai will grow to 160 billion dirhams in 2022

Dubai's real estate market continued to gain momentum, as in August it attracted a record investment of 24.3 billion dirhams through 9,720 purchase and sale transactions, despite global unfavorable conditions. According to the latest data, this is the most productive month in terms of the volume and value of purchase and sale transactions over the past 12 years.

The emirate's real estate market attracted investments worth almost 160 billion dirhams in the first eight months of 2022, as investors believed in Dubai's future growth and rushed to invest in residential plots, apartments and villas to enjoy a quality lifestyle in the UAE. Analysts and real estate experts said that the purchase and sale transactions could exceed expectations by the end of the year if the growth trend continues at the same pace.

Dubai's real estate sales exceeded 20 billion dirhams for the third month in a row, despite some cooling measures introduced by the government. In June 2022, sales of 22.75 billion dirhams were recorded, and in July 2022 - by 21 billion dirhams as a result of 8,897 and 7,092 transactions.